Car-sharing start-up HyreCar sought to generate $10.5 million via an initial public offering deployed in early June. The company surpassed that goal by more than $2 million On Friday, the company announced the closing of its IPO of 2,520,000 shares of its common stock at a price of $5 per share. HyreCar has received total […] [Read More]

This week, Carfax welcomed a unanimous decision by a three-judge panel of the United States Court of Appeals for the Second Circuit upholding the ruling of the District Court to dismiss a lawsuit filed against Carfax by Maxon Hyundai Mazda and approximately 470 dealers. Carfax said the Court of Appeals agreed that the dealers’ arguments […] [Read More]

Two partners in retention marketing and retention plans have come together to provide dealership prepaid maintenance plan and loyalty rewards customers a speedier service check-in experience that helps advisers yield more time for additional customers. The provider of prepaid maintenance (PPM) customer retention plans Fidelis PPM announced Tuesday that it has entered a new partnership with SmartTech Enterprises to simplify […] [Read More]

Michael’s Auto Plaza in East Greenbush, N.Y., accepts bitcoin — a perhaps more well-known, but still very little understood cryptocurrency — as payment for vehicle purchases. The reason is simple, said Michael Severance, the used-car store’s sales manager. If his customer has bitcoins and wants to buy a vehicle, he wants to sell it to […] [Read More]

Flexdrive announced Wednesday that the Florida Fine Cars dealerships will be using the car subscription and technology provider’s platform for its AmeriDrive vehicle subscription service in South Florida. The program will be available at the independent dealership’s four stores in Hollywood, Margate, Miami and West Palm Beach. Flexdrive, led by chief executive Jose Puente, is […] [Read More]

An Ann Arbor, Mich.- based startup building self-driving vehicles launched a new partnership in the heart of downtown Detroit to start transporting passengers in electric-powered shuttles among other cars, cyclists and pedestrians Wednesday. Following a successful pilot run of its electric self-driving vehicles on streets of the Motor City, May Mobility announced Tuesday that it has partnered […] [Read More]

Roadster has more than doubled its funding. The dealership commerce solutions provider said Wednesday it has secured $15 million of funding in a round led by existing investor Costanoa Ventures, bringing its total money raised to nearly $30 million. Roadster plans to use the funds to continue scaling operations, expand field and sales teams, give its […] [Read More]

Maryann Keller — who will be among the keynote speakers at the Automotive Intelligence Summit next month in Raleigh, N.C. — has joined the advisory board of transportation-focused venture capital firm Autotech Ventures, according to an announcement distributed on Tuesday. Autotech Ventures launched its first $120 million fund focusing on investing in ground transportation startups […] [Read More]

The Washington Post recently honored Carfax with its fifth consecutive Top Workplace award, which recognizes Washington, D.C.-area companies with the highest ratings from their employees. The company announced Monday that it is one of just 11 mid-size companies to receive the annual award a total of five consecutive times. In addition to Carfax, among the total 150 […] [Read More]

CarSoup.com has integrated fresh multi-touch attribution technology in an effort to help dealers verify which particular marketing sources are helping them move metal on the site. The company announced Monday that dealers can get an increased holistic view of how their vehicles sell on the site via Clarivoy’s Attribution API software. CarSoup is a national […] [Read More]